McKnight Manufacturing produces self-watering planters for use in upscale retail establishments. Sales projections for the first five months of the upcoming year show the estimated unit sales of the planters each month to be as follows: Click the icon to view additional information.) Inventory at the start of the year was 775 planters. The desired inventory of planters at the end of each month should be equal to 25% of the following month's budgeted sales. Each planter requires three pounds of polypropylene (a type of plastic). The company wants to have 20% of the polypropylene required for next month's production on hand at the end of each month. The polypropylene costs $0.20 per pound. Read the requirements Data Table Requirement 1. Prepare a production budget for each month in the first quarter of the year, including production in units for each month and McKnight Manufacturing Production Budget Number of planters to be sold For the Months of January through March January .... 3,100 January February March Quarter 3,200 February Unit sales March 3,000 April 4,200 Plus: Desired ending inventory Total needed 4,400 May Less: Beginning inventory Units to produce Print Done Requirement 2. Prepare a direct materials budget for the polypropylene for each month in the first quarter of the year, including the pounds of polypropylene required and the total cost of the polypropylene to be purchased. Start by preparing the direct materials budget through the total quantity needed, then complete the budget. McKnight Manufacturing Quarter Start by preparing the direct materials budget through the total quantity needed, then complete the budget. McKnight Manufacturing Direct Materials Budget For the Months of January through March January February March Units to be produced Multiply by: Quantity of direct materials needed per unit Quantity needed for production Plus: Desired ending inventory of direct materials Total quantity needed Less: Beginning inventory of direct materials Quantity to purchase Multiply by: Cost per pound Total cost of direct material purchases Enter any number in the edit fields and then continue to the next